Social Security payments are generally deposited on the second, third, or fourth Wednesday in March. While some retirees aged 62 or older got benefits on March 3 because they began receiving retirement benefits before May 1997 or because they are on SSI too, others will get it on March 26, 2025.
March 26 will be the day when Social Security delivers the last payment for retirees aged 62 or older. Then, there will be new monthly payments but in April. As of January 2025, the Administration stated that on average, retired workers get about $1,978.
Who will collect a Social Security payment on the 26th?
To receive a monthly payment on March 26, 2025, there are a few requirements you must meet. Check if you qualify:
- you started getting Social Security after April 30, 1997
- you are not receiving SSI benefits
- you were born from the 21st to the 31st
- you filed
- your application was approved by SSA
If you have not filed yet, you should know that filing at 62 is possible. However, it reduces your payment amount. Those who file at 62 get a 30% reduction. On the contrary, if you apply for benefits at 70, you will benefit from delayed credits.
Who could receive $1,343 from Social Security?
As of June 2024, the average payment was $1,311. Thanks to the COLA increase for 2025, benefits are 2.5% higher. So, on average 62-year-olds can get about $1,343.
So, if you are 62 and you get an average payment, $1,343 could be your payment amount on March 26, 2025. Social Security can deliver payments of up to $5,108.
Indeed, this payment is just for those who have managed to earn the contribution and benefit base for decades. Thus, it is unlikely many retirees get so much money.
The current maximum amounts will remain the same throughout 2025. In fact, it will not be until January 2026 when retirees aged 62 or older may benefit from a new COLA. The latest projection from the Senior Citizens League says the 2026 COLA could be about 2.2%.
